Husband Turns Life Savings Into Gold, Then Dumps It So His Wife Can't Have It During Divorce

A 52-year-old Colorado Springs man says he converted his life savings -- $500,000 -- into gold and then tossed it all into a trash bin, all so he could keep it from his wife of 25 years from getting a penny of it in their divorce settlement.

"Damn right I did," Earl Ray Jones said in a deposition to his wife's divorce attorney, the Colorado Springs Gazette reported. Jones says he raided the couple's retirement and investment accounts and converted it all into gold bars and coins -- about 22 pounds worth.

That is, if it actually happened. There were no witnesses to the gold dumping, so far no landfill operators or truckers have found any treasure and at least one Colorado Springs divorce attorney is skeptical of Jones' story. "Based on normal human conduct, one would believe that it's out there somewhere, and that he knows where it is," Phil Dubois, who has no connection with the case, said to the Gazette.